CPE Analytics data shows that total disbursements reached a record high of $13.6 billion, accounting for US$7.6 billion.
Canadian investors contributed just 28% of the total disbursements, down from a pandemic-driven record high of 48% and the previous worst record of 35% in 2017.
The largest three investor types were US VCs ($3.5 billion), US hedge funds ($1.43 billion), and Canadian VCs ($1.2 billion).
A total of 716 Canadian firms saw the bulk of investments last year with Ontario ($5.92 billion), BC ($3.93 billion), Quebec ($2.59 billion) and Alberta ($0.57 billion).
The disbursements were led by early-stage funding, which dominated the numbers of both funding and disbursements, raising $6.91 billion from 379 funding. Seed/pre-seed funding received $710 million, which is 23% of total funding, the highest level since 2017.